Details reported on sale of North Sails

It was reported in The Sunday Times on March 2 that North Sails has been sold in a deal valuing it at $130m (£78m), including debt. Oakley Capital, the British investment house, has reportedly bought a majority stake in North Technology Group, the owner of US-based North Sails. Peter Dubens, Oakley’s boss, will chair the marine equipment maker and Tom Whidden will continue in his role as chief executive of the business, founded in 1957. Oakley is buying out Windway Capital, which will keep a small stake in North Sails. An official announcement from North Sails is expected on Monday, March 3.